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Spending Vs Not Spending Your Money
If you know your money is worth less in the future then you’ll spend it now.
If you know your money is worth more in the future you won’t spend it.
When people spend their money on products and services then inflation occurs. Businesses revenues go up slightly more — thanks to inflation — and that means they can afford to pay their employees slightly more each year.
When people don’t spend money, deflation occurs. Deflation typically happens around or during a recession.
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The Simplest Way to Think About Inflation Versus Deflation
When you hear inflation, that translates to demand for products and services. When you hear deflation, that translates to less demand for products and services.
When there is more demand for products and services, prices go up and so does inflation. When there is less demand for products an...
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Printing Money
Governments can print money out of thin air. When you hear that stimulus checks are going to be handed out, that’s just secret handshake talk for “printing money.”
Printing more money should make people spend more. But what if it doesn’t? When people are fearful like they are right...
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Spend time tracking your money
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Know your worth
When starting out as a freelancer, it can be challenging to know where to price yourself based on your knowledge and your skills in the market. To work this out, we suggest you:
- Find your niche. This is the value freelancers bring to many companies to help meet their n...
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